Could Facebooks LIBRA coin destroy Bitcoin?

[plainsight]

LISTEN/WATCH PODCAST HERE -----> https://www.youtube.com/watch?v=td9QJTHSMVE

Wes Carlson, Suyash, Slava and Omar discuss the newly released White-paper of the Libra Project by FACEBOOK.

Highlights include:

- Bitcoin vs Libra Coin
- How will regulators view Libra Coin
- What are the properties of Libra Coin
- What will adoption look like
- How will this affect Banks?
- Is this good or bad for Bitcoin?
- Will Libra Destroy Bitcoin?

Recorded on 19 June 2019
---


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[Cacingkemi]

Libra coin destroys BTC? In terms of where BTC can be destroyed by new coins, is it about price or popularity? Facebook has indeed become the top social in industry media social, but BTC has also become the TOP coin in the crypto industry so according to me, all each has a place presence in the eyes of interested people and the community so BTC will not be destroyed easily .

[Convery]

We can´t say what will happen, nobody knows it.
But, there are 2 possible scenarios.
Facebook coin will bring attention to cryptocurrencies and more people will buy Bitcoin.
Facebook coin really replace Bitcoin and the future of Bitcoin will be compromised.

[plainsight]

suggest everyone listens to the Podcast, it gives some interesting and valid points as to why LIBRA coin will likely be a positive thing for Bitcoin:

https://www.youtube.com/watch?v=td9QJTHSMVE

[Nhebu]

Well, we can't deny that Libra gains an attention today because it is new. And its not far that it can take also millions of potential users. And I had read from the forbes news that libra will initially be controlled by some of the world’s largest companies, who will profit directly from the use of this currency. What do you think about it? I guess people will somehow divert their attention with it but bitcoin created a trademark that it became the most successful cryptocurrency. Let's see how Libra affects Bitcoin.

[Juggy777]

Well, we can't deny that Libra gains an attention today because it is new. And its not far that it can take also millions of potential users. And I had read from the forbes news that libra will initially be controlled by some of the world’s largest companies, who will profit directly from the use of this currency. What do you think about it? I guess people will somehow divert their attention with it but bitcoin created a trademark that it became the most successful cryptocurrency. Let's see how Libra affects Bitcoin.

@Nhebu you’re absolutely correct Libra is gaining attention due to it’s association with Facebook, who has billions of followers spread across the globe. The Forbes article you’re referring to can you share the link, cause last I had read many companies were on board to support it, not to make profits from it. Bitcoin will not be effected by Libra cause once the hype dies, people will realise Libra can’t offer the returns or features of bitcoins and they’ll immediately dump it and purchase bitcoins.

[SirLancelot]

The kind of hype you guys are giving this Libra coin is really too much. I won't be surprised if this Libra coin ends up nowhere, to be sincere… what makes people think that Libra coin is going to beat Bitcoin is what I don't really know. Bitcoin is the number cryptocurrency and many altcoins has tried to beat Bitcoin but all of them has all failed and I don't expect Libra coin to achieve that, cause there altcoins that are far much better, I think. And another thing you have to know is that whenever people talk about cryptocurrency the first thing that comes to their mind is Bitcoin andb no other thing and nothing is going to change that. Bitcoin will always remain at top, LIbra coin will only compete with altcoins.

[Angeles9999]

There is no way that LIBRA can destroy Bitcoin, like user above me say bitcoin have stronger community than LIBRA.
Facebook has pulled in significant partners in this project and what from my side I can say that they are not partners in this project (Mastercard,Visa, Vodafon, Coinbase, Xapo and etc...) LIBRA there would be nothing of this coin from my side of view.

[bloodyvio]

The answer is no, because the one is centralized and the other one is decentralized.
Libra is no different with the banks, they still control your money and they have full control to freeze your money. As for bitcoin, this coin is fully decentralized and no one controls it.
So I think people tends to choose bitcoin rather than Libra.

[rizkyfebrian213xx]

Well.. Its hard to tell could or not , anything can happen on this world.
Libra vs Bitcoin , for popularity.. Libra has it. Libra is Facebook coin which this coin founded by Founder of Facebook itself. Mark Zuckerberg , while Bitcoin founded by Satoshi Nakamoto which we don't know look of him and where is him now.
And if talk about price between this coin , Bitcoin has a big value right now , around 10k$ and Libra ? Meh.. we still didn't know what price later on Libra.
Its just my opinion.. and also maybe Libra hard or maybe can't beat bitcoin.

[CjMapope]

all this libra talk tbh i dont think the coin matters at all.    
will its CREATION cause mass adoption of BTC tho? MAYBE!  people thought crypto was a scam, but they might buy now that fbook is making one
Libracoin tho, will be like gems in a game, an INTERNAL coin
there WONT be external markets for it, and it wont be transferable OUT of fbook
nor will it even have a desktop wallet (i dont think)

its just hype, and fbooks way of getting 1 bil off of people selling DPoS nodes haha

[gunhell16]

There will be no LIBRA vs BITCOIN in this currency (crypto).
As i always said, NEW cryptocurrency is new support for BITCOIN.
As long as there are more alts to come the better and give more strength to bitcoin.
We should not see the libra as a rival for BTC, we should give both a support for the future of the world currency.

[FanEagle]

Anyone who thinks libra could even rival bitcoin shows clearly how they didn't even understand why bitcoin is so successful to begin with.

Bitcoin is so great because it has no central organization, it has no controlling party and it is purely incorruptible. Whereas libra is literally facebook coin that will be stable and pegged to fiat currency and will be sold and managed by facebook.

If you mean investment wise libra will be stable so it won't have any chance making you any richer, if you mean technology wise bitcoin had 10 years to improve whereas facebook will be new, if you mean community wise bitcoin has built a strong one for 10 years whereas facebook has its users but not all will use libra and only a small portion will. Basically in every single aspect bitcoin is much better.

[Vinalians]

Mark Zuckerberg wanted to create a coin that is backed by big companies like Uber, eBay, etc. So that they can stabilize the coin and in hoping that in the near future it will be a success like bitcoin though they are not similized the cryptocurrency libra to bitcoin.
I believe that Libra will bring a very big impact, a good impact on the whole market not in just bitcoin. It won't destroy bitcoin because they are all cryptocurrency.

[Bitcoinqubit]

LISTEN/WATCH PODCAST HERE -----> https://www.youtube.com/watch?v=td9QJTHSMVE

Wes Carlson, Suyash, Slava and Omar discuss the newly released White-paper of the Libra Project by FACEBOOK.

Highlights include:

- Bitcoin vs Libra Coin
- How will regulators view Libra Coin
- What are the properties of Libra Coin
- What will adoption look like
- How will this affect Banks?
- Is this good or bad for Bitcoin?
- Will Libra Destroy Bitcoin?

Recorded on 19 June 2019
---


BUY CRYPTO INSTANTLY:
→ Buy Bitcoin, Ethereum, Bitcoin Cash, Litecoin & XRP - get your Crypto delivered to you within 5-10 minutes @ https://cryptofish.com

LEARN ABOUT BITCOIN & CRYPTO:
→ FREE Video Learning Portal: https://www.cryptofish.com/learn
→ Latest Bitcoin & Crypto News: https://www.cryptofish.com/blog/

99% people  here uneducated in simple things in life not talking about complex things which they far away from understanding this....but in order to answer you this so you will know what wait us in the future without predicting and be sure we need to dive deep from where bitcoin come...

LETS GO..
bitcoin come from peer to peer file sharing with twist called blockchain.
now why peer to peer file sharing(decentralized tech) was burn because before this there was centrelized tech which mean there was few main servers that hold all the info like movies,mp3,software and computers around the world was downloading from this main servers without be depending on each other, what happen is the governmnets pretty fast locate this servers and shut down them.

then people became more smart

and build decentralized=peer to peer file sharing which mean our private computers are the servers, for example computer A download from computer B and computer B upload something to computer Z and so on...

BitTorrent is a peer-to-peer protocol, which means that the computers in a BitTorrent “swarm” (a group of computers downloading and uploading the same torrent) transfer data between each other without the need for a central server.

now the governmnet need to shut down more then 500 million private computers and its impossible ,,its called decentralized tech.

now bitcoin is peer to peer money and not file sharing compare to libra project which is centerlized tech and decentralized tech always win...

libra is not threat and will be huge failure for sure its stable coin.

stable coin its not investment its exchange nothing more because the price dont grow its like to exchange usd to euro nothing more but even more
libra stable coins its not real crypto stable coin its centralized and control by facebook ...real crypto its mean its peer to peer money and no central control exist and no body can lock your account or other shit

so fucking simple...

decentralized tech mixed with distributed tech will eat the entire system like peer to peer file sharing it cannot go the other way,

[Bitcoinqubit]

after I saw some news where many important people including the government began to worry about the emergence of LIBRA, would the project run smoothly according to you?
in fact it is natural because the government is worried that it will affect the country's economy

There are some rumours surfacing just like as you said, that makes me kinda doubtful about libra though and company like Facebook if ignoring the government's warning letters that just means seeking problem.
Libracoin right now is really uncertain, people are hyped yet it seems that Libra will not make it to public.

99% people  here uneducated in simple things in life not talking about complex things which they far away from understanding this....but in order to answer you this so you will know what wait us in the future without predicting and be sure we need to dive deep from where bitcoin come...

LETS GO..
bitcoin come from peer to peer file sharing with twist called blockchain.
now why peer to peer file sharing(decentralized tech) was burn because before this there was centrelized tech which mean there was few main servers that hold all the info like movies,mp3,software and computers around the world was downloading from this main servers without be depending on each other, what happen is the governmnets pretty fast locate this servers and shut down them.

then people became more smart

and build decentralized=peer to peer file sharing which mean our private computers are the servers, for example computer A download from computer B and computer B upload something to computer Z and so on...

BitTorrent is a peer-to-peer protocol, which means that the computers in a BitTorrent “swarm” (a group of computers downloading and uploading the same torrent) transfer data between each other without the need for a central server.

now the governmnet need to shut down more then 500 million private computers and its impossible ,,its called decentralized tech.

now bitcoin is peer to peer money and not file sharing compare to libra project which is centerlized tech and decentralized tech always win...

libra is not threat and will be huge failure for sure its stable coin.

stable coin its not investment its exchange nothing more because the price dont grow its like to exchange usd to euro nothing more but even more
libra stable coins its not real crypto stable coin its centralized and control by facebook ...real crypto its mean its peer to peer money and no central control exist and no body can lock your account or other shit

so fucking simple...

decentralized tech mixed with distributed tech will eat the entire system like peer to peer file sharing it cannot go the other way,

[sanida]

Another claim just to create some hype for the enthusiastic people to pivot their investment on Libra Coin. how delusional this claim is. I mean If they can destroy Bitcoin they already did so. They are so many Coins and tokens has been created since then no one has ever claim Victory even the strongest of them called Bitcoin Cash is its like a kid on Bitcoin.

[0zero0]

I think you have to be more specific here. Destroy BTC in terms of what?
There are several aspects such as price, volume, liquidity, usage etc...
No coin can destroy BTC in terms of price and not even Libra, after all it's just a stable coin which means it's price would be stable.
In terms of liquidity there are possible chances that Libra might compete BTC but then you never know what happens.
In terms of usage I think Libra has a good chance since it would be regulated in many countries and people will have more trust on it than BTC.

[FrozenBit]

I think they can do this completely. Libracoin is really powerful because their partners are successful businesses and can always work well in a new market by a professional team.
They will soon replace BTC and be the most powerful coin.
Through Libra coin's whitepaper, we can see Mark Zuckerberg's great ambition.
he is really trying to manipulate both the electronic money market and the outside world.

[PointHope]

Andreas Antonopoulos perspective on Libra

https://youtu.be/7S6506vkth4

Libra will help Bitcoin by bringing more awarenes of crypto and the trustless and permissionless aspects of Bitcoin...

You cannot trust Facebook any more than central banksters!